This is an article written by Steve Albini that I’ve found posted on a few sites. It was originally published in The Baffler (vol.5), and it’s a pretty thorough and highly pessimistic run through of the recording industry (it even includes a sample income/expense ledger).

Albini is a musician (Shellac, Rapeman, Big Black) and producer (Nirvana, Bush, Fugazi). He’s been in the music business for years and has seen a lot, working with many independent and major label acts. The article is important because it lays out how the record industry can take advantage of artist that’s unaware of how the business works.

While the article is written from the indie-rock/ punk rock point of view, it’s a good idea for musicians from all genres to read it. If you don’t recognize some of the references (Minor Threat, Touch-and-Go, CBGB’s, Kerrang), don’t worry; just know that these are/were icons of the underground punk/rock scene and are well respected in those circles.

Remember, be careful what you wish for.